AAPL in the black for 2013, shares expected to climb
AAPL shareholders were cheering last Friday because of all the foot traffic going through Apple Store doors. But that wasn't their only reason to celebrate. The day also marked the first time AAPL stock was in the black this year, closing at a high of US$556.07. The stock price started the year out at $549.03 on January 2, 2013, before plummeting to a low of $390.53 on April 19.
Since the 19th of April, the stock has been on shaky ground, recovering, then retreating, before recovering again. It spent most of this year floating in the sub-$500 range -- a far cry from its $705 high it hit in September 2012.
However, with its closing high of $556.07 on Friday, the stock is now in positive territory and many analysts see an upwards swing for the remainder of 2013 and into 2014. Many analysts expect the stock to reach $600 in the next several months, while some maintain a $777 target in the next 12 months.
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